BankIslami Brand Management

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Brand Audit

of

BankIslami Pakistan Limited

Presented To:

Mr. Ghulam Ahmad Rana

Presented By:

Waqas Sattar 1205

Bilawal Shabbir 1210

Arham Javed 1215Ch.Awais Zahid 1211

Usman Ali 1220

Bilal Nawaz 1201


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Islamic banking

Islamic banking is banking or banking activity that is consistent

with the principles of Islamic law (Shariah) and its practical

application through the development of Islamic economics.

Shariah prohibits the fixed or floating payment or acceptance of

specific interest or fees for loans of money.

In the late 20th century that a number of Islamic banks wereformed to work according to Shariah private or semi-private

commercial institutions.


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Type:

Public Limited Industry:

Islamic banking

Headquarters:

Principal Office, Karachi Pakistan

Key people:

Hasan A Bilgrami (CEO)

Chief Justice (R) Mahboob Ahmed

Products:

Retail Banking, Consumer Banking, Investment

Banking, Trade Financing etc.

INTRODUCTION


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History

The idea of BankIslami was conceptualized by Jahangir Siddiqui & Company

Limited and DCD Group in late 2003.

He presented the concept paper of BankIslami to sponsors on March 24, 2004.

The State Bank of Pakistan issued a No Objection Certificate in no time on

August 19, 2004.

BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking

license under the Islamic Banking policy of 2003 on March 31, 2005.

BankIslami Pakistan Limited made a public offering of Rs. 400 Million, at par,

from 6th to 8th March.

BankIslami started its Banking operations on 7th April 2006 with its first

branch in SITE, Karachi.


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Sponsors of BankIslami

BankIslami is a joint venture among three shareholders:

1. Dubai Bank

2. Jahangir Siddiqui & Co. Ltd

3. Randeree family of the DCD Group


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MissionThe Mission of BankIslami is to create value for their stakeholders

by offering Authentic, Shariah Compliant and technologicallyadvanced product and services.

Authenticity

Innovation

Understanding client's needs

Commitment to excellence

Fast

Efficient

Seamless delivery of solution


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Vision

TheVision of BankIslami is to be recognized as the

leading Authentic Islamic Bank.


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Core Values

BankIslami is strongly committed towards its core

values:

Product authenticity

Customer focus

Meritocracy

Integrity

Team work

Humility

Innovation


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Major Clients of BIPL

Shahmurad Sugar Mills Limited

Pak Elektron Limited

New Allied Electronics

Eden Housing Limited

Eden Developers (Private) Limited

Sui Southern Gas Company Limited

Pace (Pakistan) Limited

Lahore Electric Supply Corporation Limited


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Products & Services

Consumer Banking: MUSKUN Home Financing

Islami Auto Ijarah

Retail Banking:

Islami Current Account

Islami Foreign Currency Account

Islami Bachat Account

Islami Mahana MunafaAccount

Corporate Banking: Account Services

Trade Services

Services for Exporters

Services for Importers

Working Capital Finance

Project Finance


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Value Added Services

Online Banking

Inter Bank Fund Transfer

Internet Banking

Visa/Debit Card

Biometric ATM

24/7 Phone Banking

E-Statement

Self Service Phone Banking

Lockers


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Brand Elements

ofBankIslami Pakistan Limited


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Name:

BankIslami

The name of bank represent

that the bank is working under the

light of Shariah.


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Logo:


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Slogan:

Serving you, the Right way

Nearly all banks dealing in interest and this is forbidden

in Islam.

BankIslami is working under the light of Shariah.

And thats why slogan represents BankIslami serving in a

right way.


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http://www.bankislami.com.pk

URL:


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Future Planning

BankIslami joins companies like ABN AMRO Holding, Citigroup and Standard

Chartered with its plan to expand Islamic banking to meet demand in the world'ssecond-most populous Muslim nation.

BankIslami plans to open 18 new branches in five Pakistani

cities this year.

100 new branches in 50 cities within the next three years.

The bank plans to open its first overseas branch in

Afghanistan in the next three years.

At least 2 branches in Sirilanka within 5 years.


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Brand Image

BankIslami has been able to build a strong image by using smart

marketing ideas that resonate well with the public mind. For

example, the calligraphy of the Bank's name in Urdu have been

done by the same calligrapher Shafiq uz Zaman who has been

working in the Holy Mosque of Medina in Saudi Arabia.

The name of bank also have good image in minds of people.


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Brand Positioning

BankIslami is trying to set a positioning in mind of

customers that BankIslami is working on Islamic

way and trying to create more brand awareness inminds of people.


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Marketing Strategy

BankIslami is trying to promote the brand in thecustomers by actually providing value to its customers no

matter that BankIslami promotional campaign is

comparatively slower as compared to other Banks.

BankIslami is using print media comparatively more as

electronic media because its also big source of providing

information.

BankIslami is trying to capture maximum of the market

share by providing value services.


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BankIslami is trying to associate certain things

strongly with its brand name.

BankIslami provides, better quality services,better customer services, most caring e-banking

service that cares about customers expectations

and customer satisfaction.

Introducing new services for customers.

Brand Association


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SWOT Analysis

Due to globalization and management studies now

organizations cannot survive until they compete with

their surroundings .

SWOT analysis is the kind of tool which is used to

analyze the organizations performance in relation to its

internal and external environment strength; weakness,

opportunities and threats faces by BIPL.


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SWOT Analysis

Strengths:

It has a competitive advantage of doing less marketing as compassed

to conventional banking and as a result better cost control.

For speculative motive less money is used due to which there is

reduction in volatility in investment and chances of investment

failure.

It is feasible location wise and geographically to attract new

customers and retain potential customers by beginning innovative

products and service like BIPL offers e-banking, phone banking etc.

As bank made on name of Islam in Pakistan so, it have advantage of

religious position in a country.

Saving can be mobilized and increasing deposits of banks using as

charities and zakat fund schemes etc.


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Weaknesses:

SWOT Analysis

To complete with conventional banks a lot of capital is required

and large amount of recourses have to maintain to meet any loss

situation in Islamic finance modes of investment.

To do job efficiently and serve Islamic financial services,training is required for improving skills of management and

staff.

Staff of BIPL is less experienced and young.

Main weakness o BIPL is lack of specialization i.e. employees

are rotated from one job to another job of totally different

characteristic


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SWOT Analysis

Threats:

Market demand is less as compared to conventional interest

based banking.

After 9/11 attacks on WTC environment of Islamic banking inwest has declined.

For implementation of Islamic banking a lot of legislation is

required especially in non-Muslim countries.

Increasing competition in Islamic banking sector.

Poor economic condition of country.


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Major Competitors of BankIslami

Meezan Bank

AlBaraka Bank

Burj Bank

Dubai Islamic Bank


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ANALYSIS OF MEEZAN BANK

Strengths:

Continued to expand its branch net work.

Highly invested in technology.

Weaknesses:

Charges are very high for different activities as

compared to competitors.

Low promotion and advertisement of products andservices.


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Opportunities:

ANALYSIS OF MEEZAN BANK

Increasing demand of Islamic financial products and

services.

Market share increases through branch expression

through out the country.

Threats:

Charges in Govt. policies

Political instability


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Analysis of Al-Baraka bank

Strength:Staff are qualified and experience in field of management and

banking.

Relationship of manager with staff and staff with customers is quite

good.

Weaknesses:

Lack of training at all levels

Lengthy process of recruitment.


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Opportunities:

Analysis of Al-Baraka bank

Better Management

Location of branch is very suitable

place

Increasing competition in both domestic and foreign market.

Good job opportunities offer outside attract our current

employees.

Threats:


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Meezan bank has 274 branches throughout the country while

BIPL has 102 branches so; Meezan bank has strength of increasing

market share in country through expending its branch network.

Meezan bank provides training facility to their staff members ascompared to BIPL.

Location wise BIPL is better that Meezan bank.

Work is over loaded to employees in BIPL as compared to Meezan

Bank.

Comparison of Competitors Analysis


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Services and financial instruments offered by Meezan bank are

charged highly as compared to its competitor BIPL.

As compared to other conventional banks BIPL, MBL and Albaraka

bank are not following marketing strategies like advertisement.

Few services are offered by Albaraka bank than BIPL and MBL.

Process of recruitment is lengthy in Albaraka and MBL than in BIPL.

Comparison of Competitors Analysis


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Recommendations

It is observed that the employees were overburdened so they have to stayat branch till late at night. In this way their efficiency is affected and

hiring more employees can reduce their work.

The employees should be assigned jobs for specific period and than they

should rotated to other department so that they gain knowledge/experience of other jobs.

BankIslami should properly advertise and Communicate to public about

the services provided by it, so that more customers will be attracted.

The banks management should give more incentives and pay scale of

officers should be revised & improved.


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Recommendations

System and operations should be more defined and

organized.

BankIslami has not strong position in market. SoBankIslami should do heavy advertisement both

electronically and print media to create public awareness.

BankIslami should increase branches in different cities.


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BankIslami Brand Management

Documents

Transcript of BankIslami Brand Management